Projects - River House
River House, like the nearby bridge which straddles America’s most iconic river, will connect communities by building a unique work/live/play environment in Baton Rouge, the dynamic capital of Louisiana. Combining spacious apartments, inviting professional offices, and accessible retail space in the most central of locations, River House will join Louisiana’s bustling capitol complex with its most important university in an exciting new community. Strongly supported by local, state, and federal government representatives, River House will redefine urban living in Baton Rouge.
EB-5 Quick Facts - Note: all numbers approximate
Total Cost: USD $35.1 million
USD $28.1 million from first mortgage lender
USD $7 million in developer equity (100% already contributed)
Minimum EB-5 Investment Necessary for Project Completion: USD $0
Maximum EB-5 Investment %: 19.7% (USD $7.5 million; intentionally limited to USD $6.5 million to assure adequate job creation)
EB-5 Investment Mechanism: Loan to Project
EB-5 Investment Purpose: Supplement First Mortgage Loan and Developer Equity
- Third-Party Insurance Company Assures the Completion of the Project
- Exit Strategy: Intended Sale or Refinance After 5 Years
- One mile (1.6 km) away from both Baton Rouge CBD and Louisiana State University
- Strong local, state, and federal government support
- Total space:
- Apartments: 224 studio, one- and two-bedroom apartments in over 160,000 ft2 (14,860 m2), plus residential clubhouse
- Office: 34,000 ft2 (3,160 m2) in a three-story building
- Retail: 17,000 ft2 (1,580 m2)
Midway between the two largest employment centers in Baton Rouge
Retail and office front one of the city’s busiest roads
Across the street from state-backed Water Campus
Residences back onto the Mississippi River and its public bicycle path
Swimming pool, sundeck, barbeque area, movie screening room, and community clubhouse
Fully conforms with the city’s master plan and architectural designs, creating highly-desirable, timeless space
Situated midway between Louisiana State University (LSU) and downtown Baton Rouge, River House will bring competitively-priced apartments, convenient office space and unique retail possibilities within reach of Baton Rouge’s most exciting communities. River House will be a newly-constructed complex on an approximately 9 acre (3.64 hectare) site which will combine residences into two buildings, with separate office and retail buildings. The residences will be set back from the main access road, bringing them close to the awe-inspiring Mississippi River and the public bicycle path along its edge. Tying these residences together, a central clubhouse will build a community with amenities like an entertainment room, fitness center, pool, and a barbeque area. Meanwhile, the office and retail space will front busy Nicholson Drive to gain maximum street exposure to the over 20,000 people who use this thoroughfare daily. Connecting businesses and customers, students and employers, officials and citizens: River House will invite them all with unique spaces in which to live, work, shop, and enjoy the state capital.
About 1 mile (1.6km) away from Louisiana State University (LSU) and the downtown/state capitol complex – the economic, cultural, and political centers of Baton Rouge – River House’s central location is its most important asset. Being on Nicholson Drive, a heavily trafficked main artery, means that it can easily be reached from both locations without having to use the frequently congested highways. River House’s central location is its strongest asset.
River House has been designed from the start with its likeliest tenants in mind, and the city of Baton Rouge has played a key role in ensuring that the project meets or exceeds the standards of the city’s master plan. As a result, River House will have one of the city’s most attractive set of amenities and architectural design packages, including:
224 studio, one-, and two-bedroom apartments (ranging from 513-955 ft2 (48-89 m2))
A 4,200 ft2 (390 m2) communal clubhouse, complete with:
Movie screening room
Covered and uncovered parking available for all residents
About 34,000 ft2 (3,160 m2) of office space in a three-story office building
Frontage along busy Nicholson Drive
Free parking for office tenants, not available in many other buildings in downtown
About 17,000 ft2 (1,580 m2) of retail space
Frontage along busy Nicholson Drive
River House’s central location means that it will benefit from strong government and university growth. Residents seeking to live close to either location, professionals doing business with one or both of these institutions, and locals hoping for convenient shopping opportunities will all be well-served by River House.
All apartments will be rental units, making them flexible and convenient for the graduate students, faculty, and professionals who will live there
Extremely low submarket vacancy rates, demonstrating high demand for space in this area:
Strong support from Federal, state, and local government officials indicates the importance of the project to Baton Rouge
A vibrant market, attractive and permanent institutions nearby, and increasing demand for space in the area makes River House a project for which all signs point to success.
The safety and security of our investors is extremely important to us. To make it as simple and safe as possible, investors in River House will make a loan to the project. This loan will be senior to developer equity which has already been committed. Thus, River House will place investors in a more secure position with regard to their investment and its expected job creation as compared to other EB-5 investments where developer equity is senior to investor equity.
It is anticipated that River House will obtain financing of about $28.1 million. River House will benefit from a variety of non-EB-5 sources of capital, meaning that River House will not be dependent on any fixed numberof EB-5 investors in order to complete the project or create the jobs necessary for your EB-5 investment. River House is strongly supported by government officials at the Federal, state, and local level, and the completion of the project is viewed as a very important part of the continuing economic development of the area.
Government support and strong market demand for residential, retail, and office space in this area should make this project very successful. After about 5 years, we will attempt to sell or refinance the complex, creating a liquidity event and repayment plan for the investors.
We are happy to share detailed information on our exit strategies with our registered investors.